Closed-End FundsEnerVest Energy & Oil Sands Total Return Trust

Tax

Adjusted Cost Base
Canoe is not able to calculate this information for investors. Please consult with your investment advisor regarding this, or go to ACB Tracking, providers of an adjusted cost base calculator on a fee for service basis.

2011 Tax Year – Distribution Breakdown
Please note that the information provided below is for information purposes only.  You will receive a T3 slip, which is not prepared by Canoe, from your investment advisor or, if you are a registered unitholder, from Computershare Trust Company of Canada.  Please consult with your investment advisor directly regarding their preparation and mailing deadlines.

For the year ended December 31, 2011, distributions to Canadian resident unitholders of EnerVest Energy and Oil Sands Total Return Trust are to be treated for income tax purposes as follows:

Other Tax Information

• T3 Tax Slips

  Information regarding the tax breakdown of the EnerVest distributions has been sent electronically to Investment Dealers, who are responsible for the preparation and delivery of T3 slips to their clients.  The mailing deadline for delivery of the slips is March 31, 2012. We urge investors to contact their Investment Dealer directly to determine their specific preparation and delivery schedule.

• Non-Resident Unitholders

  Existing Non-Resident unitholders are not entitled to the same tax breakdown as Canadian unitholders. Please consult your tax professional or financial advisor to discuss your specific situation.

Historical Information by Tax Year

• 2010

  100.0% of the distributions are considered return of capital. The return of capital reduces the adjusted cost base of the Unitholder's trust unit.

  EnerVest distributed $0.50 per Unit in 2010, distributing $0.0417 per unit per month to Unitholders of record on the last trading day of each month.

• 2009

  100.0% of the distributions are considered return of capital. The return of capital reduces the adjusted cost base of the Unitholder's trust unit.

  EnerVest distributed $0.5004 per Unit in 2009, distributing $0.0417 per unit per month to Unitholders of record on the last trading day of each month.

• 2008

  1. 0.88196% of the distributions received are taxable as “other taxable income” (Investment Income);
  2. 19.05249% of the distributions received are taxable as “other taxable income” (Not Investment Income);
  3. 0.0% of the distributions received are taxable as “capital gains”;
  4. 1.75344% of the distributions received are taxable as “actual amount of eligible dividends”;
  5. 3.60347% of the distributions received are taxable as “foreign business income”;
  6. 0.31595% of the distributions received are taxable as “foreign non-business income”;
  7. 75.64734% of the distributions received are return of capital; and
  8. (1.25465%) of the distribution is foreign business income tax paid.

  (100.00%)

   

  The 75.64734% return of capital to Unitholders reduces the adjusted cost base of the Unitholder’s trust Unit. Please note that the above allocations including the foreign business and non-business income taxes paid add to a combined total of 100%.

  EnerVest distributed $0.5004 per Unit in 2008, distributing $0.0417 per unit per month to Unitholders of record on the last trading day of each month.

• 2007

  1. 34.02097% of the distributions received are taxable as “other taxable income”;
  2. 0.20747% of the distributions received are taxable as “capital gains”;
  3. 1.67469% of the distributions received are taxable as “actual amount of eligible dividends”;
  4. 3.41518% of the distributions received are taxable as “foreign business income”;
  5. 0.37679% of the distributions received are taxable as “foreign non-business income”;
  6. 60.72636% of the distributions received are return of capital; and
  7. (0.42146%) of the distribution is foreign business income tax paid.

  (100.00%)

  The 60.72636% return of capital to unitholders will reduce the adjusted cost base of the unitholder’s trust unit. Please note that the above allocations including the foreign business and non-business income taxes paid add to a combined total of 100%.

  EnerVest distributed $0.5004 per unit in 2007, consistently distributing $0.0417 per unit per month to unitholders of record on the last trading day of each month.

• 2006

  1. 45.23457% of the distributions received are taxable as “other taxable income”;
  2. 4.38709% of the distributions received are taxable as “actual amount of eligible dividends”;
  3. 4.89023% of the distributions received are taxable as “actual amount of non-eligible dividends”;
  4. 2.85222% of the distributions received are taxable as “foreign business income”;
  5. 0.51638% of the distributions received are taxable as “foreign non-business income”;
  6. 42.11951% of the distributions received are return of capital.

  (100.00%)

  The 42.11951% return of capital to unitholders will reduce the adjusted cost base of the unitholder’s trust unit. Foreign business tax paid was 0.42003% of the 2006 distributions received.

  EnerVest distributed $0.3336 per unit in 2006, consistently distributing $0.0417 per unit per month to unitholders of record on the last trading day of each month commencing in May.